Section 900L | Realisation of fungible assets: pre-FA 2002 assets and restricted assets ^F1

(1)This section applies if—

(a)a company realises a fungible asset, and

(b)apart from subsection (1) of section 900K, the asset would be treated as part of a single asset comprising more than one of the kinds of asset referred to in that subsection.

(2)The realisation is treated—

(a)as diminishing a single asset of the company comprising pre-FA 2002 assets in priority to diminishing a single asset of the company comprising restricted assets or a single asset of the company comprising standard intangible fixed assets, and

(b)as diminishing a single asset of the company comprising restricted assets in priority to diminishing a single asset of the company comprising standard intangible fixed assets.